September 1, 2017
Today the energy industry regulator, Ofgem, revised the Confidence Code. The revision comes after Ofgem published their decision on the partial implementation of the CMA's 'Whole of Market' remedy and revised Confidence Code requirements in July.
The Confidence Code is a code of practice to govern independent energy price comparison sites, Ofgem oversee the code. Energylinx is a member of the code, along with 10 others.
'Whole of Market' View
Last June, the CMA published their final report into the energy industry. One of the recommendations was that price comparison websites (PCWs) should no longer default to a 'whole of the market' view when a customer completes a quote on their website.
This has now, offically, be rolled out and confidence code members default results page will only include the energy suppliers that they can switch customers to. If a customer wants to view the 'whole of market' then every PCWs result page should have the ability to filter the results.
There has also been a proposed change to the Confidence Code wording to help address concerns consumers may have on whether to trust the results of the PCW. There will be a consultation on new wording to ensure that PCWs provide clear messaging about the market coverage that consumers see in the partial view. This is great for consumers, as it promises transparency and helps builds trust. It also provides the PCW the opportunity to explain the suppliers that they can allow customers to switch to.
Energylinx welcome this decision as it provides our customers with a better switching experience. By focusing the results page on energy suppliers that the customer can switch to and not the suppliers that they will have to go elsewhere for. The customer isn't losing anything from the new default partial view, as they have the power to compare the 'whole of the market' by applying that filter.
Tariff Listed in Price Order
Another decision is that accredited PCWs will have to list tariffs in price order, unless the consumer specifically asks for them to be ordered in some other way.
This is great news as it allows PCWs to add additional filters that can encourage customers to consider different factors such a as supplier ratings or customer satisfaction levels or any additional features rather than just focusing on cost.
Overall today's publication is positive from both the consumer and the PCWs point of view. It empowers the customer to make their own choices on what they can see in the results page and benefits the PCW because they don't have to default the results page to energy suppliers that they don't have a commercial relationship with, but were ultimately providing with free marketing and helping them gain new customers.
You can find the best deal for your energy supplier with Energylinx. Either online or by calling 01259 220000 and speaking to one of our energy advisors. On average our customer save £362*.
If you would like to read the revised Confidence code, click here.
*20% of all users over the last 60 days (3 Jul - 31 Aug) achieved a saving of at least £362.09
Posted on September 1, 2017 at 10:34 AM